Reuters - Before the Bell

Click to View in Browser

Friday, February 22, 2019

AutoNation misses profit, revenue estimates; names new CEO

AutoNation Inc reported lower-than-expected quarterly profit and revenue on Friday, as the largest U.S. auto retailer sold fewer new vehicles, and the company named a new chief executive officer.

UK's Serious Fraud Office drops probes at Rolls Royce, GSK

Britain's Serious Fraud Office (SFO) has dropped long-running investigations into individuals at aero engine maker Rolls-Royce and drugs giant GlaxoSmithKline, adding to a growing list of cases where the agency has failed to land convictions.

Ford probing possible problems with fuel economy, emissions tests

Ford Motor Co said on Thursday it has hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data provided to regulators or consumers.

UBS sticks to dividend, capital return plans after French verdict

UBS plans to stick to its proposed dividend for 2018, CEO Sergio Ermotti said on Friday, two days after the Swiss bank was hit with a 4.5 billion euro ($5.10 billion) penalty in a French tax ruling that the bank has appealed.

Global shares nudge higher, Aussie dollar rebounds after slide

Global shares rose on Friday as signs of progress on trade offset a worsening economic outlook, while the Aussie dollar recouped some losses after China denied it had halted Australian coal imports.

JPMorgan trades banker offices for shared desks

NEW YORK - JPMorgan Chase & Co is tearing down walls and moving its San Francisco investment bankers onto "hot desks," a space-saving layout that has long been a fixture at tech companies, while redesigning offices in Dallas and other cities.

FATF says EU dirty money list risks undermining its work

A European Union blacklist of nations it considers as anti-money laundering and terrorism-financing threats risks undermining the work of the Financial Action Task Force, the body's head said on Friday.

Daimler, BMW to invest 1 billion euros in venture to rival Uber

German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business on Friday to compete with mobility services provided by Uber and other tech firms.

Kraft Heinz discloses SEC probe, $15 billion write-down; shares dive 20 percent

Shares of Kraft Heinz Co slumped 20 percent late on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its iconic Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry.

VietJet to sign major Boeing deal during Trump-Kim summit: sources

Fast-growing Vietnamese budget airline VietJet Aviation JSC is expected to sign a major jet deal with Boeing Co on the sidelines of next week's Trump-Kim summit, according to sources familiar with the matter.